Regulatory Alerts2020-05-13 | Carta Circular 4050Circular Letter No. 4050 — Creation of Accounting Entries in the National Financial System Accounting Plan for Time Deposits with Special Guarantee (DPGE), LTEL, and DPGE Operations
The Head of the Financial System Regulation Department of the Central Bank of Brazil establishes new accounting titles and sub-titles within the National Financial System Accounting Plan (Cosif) to properly record Time Deposits with Special Guarantee (DPGE) and operations under the Temporary Special Liquidity Line (LTEL). These new entries, including specific codes for the Central Bank and financial expenses, are designed to ensure accurate classification of loans and liabilities governed by Resolutions 4,786 and 4,795. The regulation mandates that all accounting documents prepared from the May 2020 base date must utilize these new rubrics, requiring the reclassification of existing balances to the appropriate accounts.
Share